CONTRACTS 1 - Chattanooga Real Estate

CONTRACTS 1.0

NAVIGATING REAL ESTATE OFFERS AND CONTRACTS

Contracts 1.0 | Page 2

0218-TR-C101.2

The material contained within this course, including this handout, was developed exclusively for the Tennessee Real Estate Education Foundation (TREEF) in cooperation with Tennessee REALTORS?. The material is for the sole use of course instructors approved by the Tennessee Real Estate Commission and TREEF. Any unauthorized use is strictly prohibited. ?2018 Tennessee Real Estate Education Foundation

?2018 Tennessee Real Estate Education Foundation. All Rights Reserved.

Contracts 1.0 | Page 3

CONTRACTS 1.0

NAVIGATING REAL ESTATE OFFERS AND CONTRACTS

Course Designed by:

John Giffen, CRB, CRS, CDEI, GRI, Broker for the Tennessee Real Estate Education Foundation

in cooperation with Tennessee REALTORS?

?2018 Tennessee Real Estate Education Foundation. All Rights Reserved.

Contracts 1.0 | Page 4 ?2018 Tennessee Real Estate Education Foundation. All Rights Reserved.

Contracts 1.0 | Page 5

Contracts 1.0: Navigating Real Estate Offers and Contracts Course Outline

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A Note for Instructors

Course Introduction

Contracts 1.0 Skill Assessment

Unit 1

Contract Basics

? What is a Contract? ? What Makes a Contract Legal? ? Who Can Sign a Contract? ? A Few Words on Multiple Offers ? Binding the Agreement

Unit 2

Contract Timelines and Performance Dates

? Definition of Days ? Time is of the Essence ? Loan Obligations ? Financing Contingency Waived ? Binding Agreement Date ? Preprinted Deadlines ? Notification and Termination of the Agreement ? Defaulting on the Contract ? CLASS EXERCISE #1 ? Performance Dates and Deadlines

Unit 3

Inspections and Repairs

? Inspecting the Property ? A Note About Home Inspections in Tennessee ? Septic and Well Inspections ? Costs Associated with Inspections and Repairs ? Home Inspectors ? Inspection Contingency in the Purchase and Sale Agreement ? A Note About "As Is" Properties ? Lender Requirements ? CLASS EXERCISE #2 ? Inspections and Repairs

Unit 4

Special Stipulations

? Overview of Special Stipulations ? Points to Remember ? CLASS EXERCISE #3 ? Special Stipulations

?2018 Tennessee Real Estate Education Foundation. All Rights Reserved.

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